India: Durgapur Pellet Offers Fall Amid Declining P-DRI Prices

Limited trades in Durgapur (eastern India) have resulted in decline in pellet offers. In Durgapur SteelMint’s reference, pellet price assessment stands at INR 6,000 (delivered) down sharply by INR 300-400/MT against INR 6,300-6,400/MT end of the last week assessment.

P-DRI prices have also decreased sharply W-o-W at Durgapur to INR 16,300-16,500/MT against last week assessment of INR 16,700-16,900/MT.

Raipur pellet offers stable; limited trades reported-: Raipur (Central India) based pellet manufacturers kept the pellet offers remains unchanged. Current offers for Fe 63% grade assessed at INR 6,800/MT (ex-Raipur, GST extra). Few deals were reported from Raigarh and Durg based pellet makers.

P-DRI prices in Raipur witnessed declined sharply to INR 16,100/MT (basic) compared to INR 16,800/MT (Ex-Raipur) last week.

Southern India pellet offers range-bound -: Southern India (Bellary) based pellet makers have witnessed at INR 6,200-6,400/MT in line with last week assessment. P-DRI prices down sharply to INR 15,700-15,900/MT as against last week at around INR 16,200-16,400/MT.

Indian pellet trade updates-:

-- Raigarh based pellet makers offer assessed at INR 6,000/MT (ex-plant).

-- Jharsuguda based pellet maker –Shyam Metalik is also offering pellet at INR 6,000/MT (Ex-plant).

SteelMint pellet reference prices as on 30th Jul'19